As part of the potential machinations, per Bloomberg, Staples will need to buy back about $1 billion of unsecured bonds at a “make-whole premium” in order to compensate investors for future interest payments they would then not receive. That could result in a payment of 111 cents on the dollar.
“Bond investors will not be the only ones to benefit from the buyback,” Bloomberg reported. “Sycamore has been purchasing the unsecured notes, which traded as low as around 88 cents on the dollar last year. It had bought around $71 million of face value of the notes during the first nine months of 2018.”
Ogni tanto na gioia....
